Genel reports payment of oil sales from KRI
Genel Energy has announced that payments have been received from the Kurdistan Regional Government for oil sales during July 2020.
The Taq Taq and Tawke licence are located in the Kurdistan Region of Iraq.
In a statement, Genel said that its Taq Taq partners have received a gross payment of $4.7 million, with Genel's net share of the payment being $2.6 million. While, The Tawke partners have received a gross payment of $35.8 million, with Genel's net share of the payment being $8.7 million.
Last month, Genel reported a US$340 million operating loss, while it generated US$88.4 million of revenue for the six months compared to US$194.3 million in the first half of last year.
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